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Vertical Search - challenges and opportunities
 

Vertical Search - challenges and opportunities

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Presentation by Graeme McCrakken CEO of Reed Business Search at the AOP Vertical Search event on Jan 21st 2008

Presentation by Graeme McCrakken CEO of Reed Business Search at the AOP Vertical Search event on Jan 21st 2008

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    Vertical Search - challenges and opportunities Vertical Search - challenges and opportunities Presentation Transcript

    • Graeme McCracken Chief Operating Officer, RB Search [email_address] Vertical Search: Challenges & Opportunities
    • Search: A growing market!
      • Forrester predicted $34b by 2010, we believe it will be closer to double this with at least $11b in B2B
      • 59% of dollars migrating from other media budgets (print, web display ads, shopping directories, email, direct marketing, etc)
      • 35% of user sessions initiated by a query, making site search the most used application on a typical web site
      • B2B site search success rate is only 58%
      • 30% of visitors abandon a site with each failed query
      • Industry/Vertical search typically yields a 30 – 60% increase in page views per year – 50% from new customers
      “ What was the result of your online research?” Google most used in B2B markets
    • The Fried Egg Model Addressed Market “ Bonus” audience
    • It may feel safe….but for how long?
    • Frogs are SO! hot
    • Understand your market, content & search Researcher Domain queries Focused vocabulary Initial broad queries Refinement Queries in related domains
      • User Profiles:
      • Researchers
      • Buyers
      • Browsers
      • Researchers and buyers behave similarly, as they are both goal-oriented. The system need to be designed with their needs in mind
      • Browsers are ancillary and will benefit by proxy
      Browser Broad queries Generalize vocabulary Longer sessions Buyer Goal seeker Domain queries Focused vocabulary Specific queries Refinement Click-thrus Search Platform
      • Typical Searches:
      • Goal-oriented, precise
      • Multi-term with no conjunctives
      • Most likely to include category or solution domain terms
      • Refinement, sorting and filtering will be important aspects of the results UI
      • Users will rely heavily on system to “return the right thing” or to help them “find the right thing”
    • The problem with search today
      • Precision
      • Mention vs. About
      • Noise & Spam
      • Recall
      • Breadth vs. Depth
      • Context & Semantics
      • Refinement
      • Navigation
      • Mindset & Intention
      • Impact
      • Searcher Frustration
      • Advertiser ROI
    • The other problem with search – an inverse model The more relevant/targeted the advert….the less you pay
    • RB Search
      • Technology Platform
      • Improve results and implement testing methodology
      • Develop UI and Usability competence
      • Continue to develop product
      Zibb on Demand 2. Build best in breed Vertical Search & Widgets for all RB websites Zibb.com & Zibbsearch.nl 1. Build best in breed B2B Search Engine
    • What does search do for us? Millions of B2B Spec Sheets, Catalogs, Press Releases, White Papers Topic Taxonomy Content Indexing Product & Service Ontology Geographic Taxonomy Individual/ Position Over 2 billion B2B Web Pages, News & Blogs 3 million companies 220k Products/ Services Millions of Attendees & Exhibitors
      • Taxonomy links all B2B content together
      • Crawl – RB proprietary plus B2B web content
      • Aggregate Content – a holistic design principle
      • User Interface/Branding Architecture
      • Not one site, but a multitude & powers all 900 websites and more
      • Benefits: Answering B2B queries; Web /Blog plus site search; Adsense for Search; Traffic Cascade to RB sites/CPM & CPC Revenue
      B2B Web The Search Engine Company Taxonomy +5 million News Articles Multiple Repositories
    • What is the Value to the Consumer? From… ...To Content Source All the Web/Site Specific Industry Specific Search Failure Rate > 50% < 5% Relevance Broad and Arbitrary Contextual & Explainable Interaction Pull Push & Pull Perception No Alternative Useful Disambiguation None Navigation Productivity Gather Links Analyze Information
    • What is the Benefit to the Business? From… ...To Search Traffic (% of Total) 1% More than 10% Overall Traffic Impact Limited Source of Differentiation Revenue per Search $? $0.05 Standards None Scale & Advantage Search Roadmap Not a Priority Competitive Advantage Other Monetization NA Incremental Maintenance & Support Site Specific Centralized & Dedicated Sources: Outsell; Forrester
    • Zibb – branded vertical search
    • ZIbb – Better Answers by Market
    • Zibb On Demand – Beyond Search ! Video & Part Search
      • 112 ive ZoD’s
      • +70 live with News Feeds, Related Items, Infusion
      • on sites that generate +50 million page impressions per month
      • driving 54% YOY increase in page impressions
      • Driven by 15 million ZoD/widget, 130 million queries and more than 2 million direct searches per month
      • Growing at +30% per month
    • Domain Expertise – better answers
      • Content Type – the web is a medium, not a type of content!
      • Disambiguation – did you want news/product/blog/catalog, etc?
      • Market – you are special, so is the content within our index
      • Market specific, quality content – own your own index!
      • Taxonomy, Ontology, Folksonomy – describe your market
      • Answers, not questions – lotus car or lotus position
      • Aboutness
        • Everything you ever wanted to know ‘about’ …… but were afraid to ask!
        • A specific zone for all our specialised users
      • RB Search classifies all our content by multiple taxonomies by Topic, Product, Company, Geography, Individual/Job Position
      • Web 2.0?……………. no more like Web 3.0 (the Semantic Version)
      • ………………………………………………………… ..In short it is about Answers, not Questions!
    • You may think I am decoupled…and you would be right! XML XML XML
    • Raising the Sea Level – Reverse Thinking Yeserday Today 950 websites EDN Flight Variety Powder Bulk Solids ECN
    • Not a silver bullet – you only get one of those!
    • Then you get carried away
    • Key takeaways
      • Search fundamentally changes the game – both for internal and external content – Google proves this
      • You can exploit this to do internal and external developments faster, cheaper and better
      • Always choose the best product for that specific purpose, do not make do! Even second best costs you money and more importantly time
      • It is not cheap…..but as an infrastructure and game changer it is very reasonable
      • Business models are challenging and you need to be nimble in order to exploit opportunities
      • Apply standards/taxonomies globally, do not try to standardise systems globally - its quicker, better and simpler
      • Decouple, decouple, decouple….keeps it simple to manage, fast to integrate and incredibly flexible
      • It can power far more than you would ever believe possible - it breaks the RDBMS rules and can make you agile
      • It’s about speed and aggression – that is what drives innovation
      • …… ..it is also a little frightening, as it breaks rules, challenges business and IT and liberates you
      • Questions